Blog post why the United States is fed up with Swiss Banks.Working with a Swiss lawyer and others, the United States businessman father arranged for over $12 million in the undeclared accounts to be left to his surviving spouse and five of his children, including Seggerman.

As a result of the successful implementation of that plan, and to hide the undeclared funds from the IRS, Seggerman, who, together with three of his siblings, was an executor of his father’s estate, signed a tax return for his father’s estate that falsely under-reported the gross assets of the businessman father’s estate. In particular, the estate tax return fraudulently failed to report over $5 million left to the businessman father’s wife and over $7.5 million to be split among five of his children.

In addition, the Swiss lawyer thereafter assisted Seggerman’s siblings, including Suzanne Seggerman, Yvonne Seggerman, and Edmund Seggerman, in setting up undeclared Swiss bank accounts to hold the money left to them by their father.

Seggerman assisted his brother in surreptitiously transferring funds from the brother’s Swiss account to a bank account for a foundation controlled by Seggerman, who thereafter filtered the funds to the brother in the United States, labeling the transfer as “loans.” Read More